If stock markets have milestones, the Dow Jones Industrial Average breaking through 50,000 points undoubtedly marks a historic moment. Last Friday saw all three major U.S. stock indices surge forward, with the Dow Jones making history by closing above the 50,000 threshold, posting a weekly gain of 2.5%. The Nasdaq Composite and S&P 500 also rose by 2.18% and 1.97% respectively, though both indices recorded slight weekly declines of 1.84% and 0.1% due to earlier trading session weaknesses.
The semiconductor sector emerged as the clear leader in this rally. The Philadelphia Semiconductor Index soared 5.7%, demonstrating the remarkable strength of technology stocks. Nvidia stood out with particularly impressive performance, its shares jumping nearly 8% and adding $325 billion in market value in a single day. Broadcom followed closely with over 7% gains, while Tesla posted a solid 3% increase.
Not all tech giants rode this upward wave equally. Amazon shares fell more than 5%, while Google parent Alphabet declined over 2%.
Beyond semiconductors, other sectors showed vigorous activity. Cryptocurrency-related stocks performed notably well, with Circle and Coinbase both gaining more than 13%. The computer hardware sector also delivered strong results— Super Micro Computer rose over 11%, while AMD and KLA both climbed more than 8%. In precious metals, Pan American Silver gained over 5%, with Intel and ASML both advancing more than 4%. Overall, Friday's trading session presented a broad market rally, with technology stocks serving as the primary engine driving market gains.